XL Fleet Expects its Largest Partner to Double Orders in 2021

Commercial Upfitter Farmbro Expects to Purchase and Install More Than 2,000 XL Systems in 2021

XL Fleet (“XL” or the “Company”), a leader in vehicle electrification solutions for commercial and municipal fleets, announced that Farmbro Inc. (“Farmbro”), an Ontario-based upfitting solutions service provider specializing in commercial and work vehicles, expects to double its sales volume from approximately 1,000 XL unit installations in 2020 to over 2,000 in 2021 to meet the increasing demand for fleet electrification in Canada. As part of its expanding partnership, XL Fleet is recognizing Farmbro as its Sales and Installation Partner of the Year for 2020.

Farmbro is a member of XL’s Sales and Installation Partner network, the Company’s comprehensive go-to-market channel for selling and installing the thousands of electrification systems it has deployed in fleet vehicles throughout North America. Farmbro installs XL’s hybrid electric drive systems on a wide range of vehicles and applications for its Canadian fleet customers, including Ford Transits and Ford E-450 step vans for applications including last mile delivery, emergency response, customer service and mass transit.

“Farmbro has been an exceptional partner for XL Fleet, as we have greatly expanded our reach into the Canadian fleet market over the past 18 months,” said Brian Piern, Vice President of Sales and Marketing at XL Fleet. “They have been an integral part of our continued growth and success, and an obvious choice to be recognized as our partner of the year. We look forward to continue ramping up our production volume with them in 2021 and beyond, as XL Fleet continues to expand its Canadian customer base, electrify new vehicles and enter new markets.”

“Demand in Canada for vehicle electrification has skyrocketed in recent years as both government and corporate initiatives on carbon reduction have become a priority for fleets,” said John Farmer, President of Farmbro. “Our partnership with XL Fleet has given us the unique opportunity to meet those demands for customers nationwide. The team at Farmbro appreciates this recognition and looks forward to expanding our partnership with XL Fleet.”

XL remains on track to complete its previously announced merger agreement with Pivotal Investment Corporation II (NYSE: PIC), a publicly traded special purpose acquisition company, in the fourth quarter of 2020. Upon closing, the combined company will be named XL Fleet Corp. and is expected to remain listed on the New York Stock Exchange under a new ticker symbol, “XL”.

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